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NACBS, 2400 16th STREET, N. W., WASHINGTON 9, D. C. OFFICIAL Fatorttaffy ks 1959
BULLETIN
No. 203
from
^0Ur WELFARE AND PENSION PUN DISCLOSURE ACT
WASHINGTON — ~ ~
OFFICE Due to the scope of the Welfare and Pension Plans Disclosure Act and the effect it will have on most business organizations, we have been in contact with the U0 So Department of Labor, representatives of insurance companies, banking and trust organizations, etc.
This law is unusual in that it contains no provision for an organization to administer it. The only governmental department or agency mentioned in the law is the TJ. S. Department of Labor, and then only to the extent that the Secretary of Labor is directed to prepare forms for the descriptions of the plans and the annual reports in order to assist administrators in complying with the Act. He is further required to make plan descriptions and annual reports filed with the Department available for public examination in the public document room of the U. S. Department of Labor»
As a result of this unusual feature of the Act it is not possible to get an official opinion on any portion of the Act. Regula tions or explanations of the Act will not be issued, and therefore any questions as to «What plans are covered™, «What should be reported?«, etc., are left to the judgment or interpretation of the owners, partners, officers or board of directors of each business organization«
Based on discussion and other information available to us, we enclose a brief summary of the requirements of the Act as we understand them, including a listing of the plans we believed to be covered or not covered by the Act,
The Act became effective January 1, 1959, and preparation should be made as soon as possible to comply with filing of descriptions of plans by March 31, 1959. Copies of Form D-l (Plan Description Forms) may be obtained from the U. S. Department of Labor, Bureau of Labor Standards, Welfare and Pension Reports Division. Washington 25, D. C.
You will note that the Act permits the required report to be certified by an independent CPA in lieu of being sworn to by the Administrator.
Very truly yours
Charles E. Palmer President

Accrediting Council for Independent Colleges and Schools (ACICS). All rights reserved.

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le
NACBS, 2400 16th STREET, N. W., WASHINGTON 9, D. C. OFFICIAL Fatorttaffy ks 1959
BULLETIN
No. 203
from
^0Ur WELFARE AND PENSION PUN DISCLOSURE ACT
WASHINGTON — ~ ~
OFFICE Due to the scope of the Welfare and Pension Plans Disclosure Act and the effect it will have on most business organizations, we have been in contact with the U0 So Department of Labor, representatives of insurance companies, banking and trust organizations, etc.
This law is unusual in that it contains no provision for an organization to administer it. The only governmental department or agency mentioned in the law is the TJ. S. Department of Labor, and then only to the extent that the Secretary of Labor is directed to prepare forms for the descriptions of the plans and the annual reports in order to assist administrators in complying with the Act. He is further required to make plan descriptions and annual reports filed with the Department available for public examination in the public document room of the U. S. Department of Labor»
As a result of this unusual feature of the Act it is not possible to get an official opinion on any portion of the Act. Regula tions or explanations of the Act will not be issued, and therefore any questions as to «What plans are covered™, «What should be reported?«, etc., are left to the judgment or interpretation of the owners, partners, officers or board of directors of each business organization«
Based on discussion and other information available to us, we enclose a brief summary of the requirements of the Act as we understand them, including a listing of the plans we believed to be covered or not covered by the Act,
The Act became effective January 1, 1959, and preparation should be made as soon as possible to comply with filing of descriptions of plans by March 31, 1959. Copies of Form D-l (Plan Description Forms) may be obtained from the U. S. Department of Labor, Bureau of Labor Standards, Welfare and Pension Reports Division. Washington 25, D. C.
You will note that the Act permits the required report to be certified by an independent CPA in lieu of being sworn to by the Administrator.
Very truly yours
Charles E. Palmer President